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2 PE firms agree to buy Vertafore from TPG Capital

Funds affiliated with Bain Capital Private Equity and VistaEquity Partners have jointly agreed to acquire Vertafore, an insurancetechnology company, from TPG Capital.

The deal is expected to close in the third quarter.Terms of the deal were not disclosed.

Bank of America Merrill Lynch is the exclusive financialadviser and Ropes & Gray LLP is legal adviser to Vertafore and TPG. CreditSuisse is providing financial commitments and acting as financial adviser,Kirkland & Ellis LLP is acting as legal counsel, and EY LLP is accountingadviser to Bain Capital Private Equity and Vista Equity Partners.